Quick take:
The two companies have partnered to bring Lombard’s liquid-staked bitcoin LBTC to the EigenLayer ecosystem, for restaking.
Lombard and Eigen Foundations also plan to bolster BTC restaking security and slashing design in the coming months.
The partnership will contribute to Lombard’s long-term plan of expanding Bitcoin utility through more use cases.
Bitcoin liquid staking platform Lombard has partnered with Eigen Foundation to bring BTC restaking to the EigenLayer ecosystem. The partnership allows Bitcoin holders to to earn yield by staking BTC on the Babylon protocol and further rewards through restaking on Eigenlayer.
EigenLayer is the leading crypto restaking protocol on Ethereum. The platform allows stakers to restake their staked tokens to earn more rewards. The restaked assets secure actively validated services (AVSs) including bridges, oracles, Layers 2s and side chains, and data availability networks.
Lombard’s liquid staking platform allows BTC holders to earn base yield by staking their tokens on Babylon.
Lombard and Eigen Foundation plan to bolster BTC restaking security and slashing design in the coming months. The partnership is also part of Lombard’s goal of expanding Bitcoin beyond being a mere store of value by adding utility through more use cases.
Commenting on the announcement, Lombard Finance co-founder Jacob Phillips told The Block: “Partnering with EigenLayer creates a landmark moment for Bitcoin, bringing LBTC as the first BTC asset into the restaking ecosystem. This collaboration unlocks new rewards opportunities for Bitcoin holders while strengthening decentralized infrastructure across the ecosystem.”
Luke Hajdukiewicz, Eigen Lab’s head of AVS business development commented: “Lombard is an incredible addition to the ecosystem, their impressive experience in the BTC ecosystem will be a welcome force to provide additional and diverse security to AVSs.”
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